News & Research

Market Research & Info

Land Prime analyst Shadi Abdo

  • Member of The Egyptian Society of Technical Analyst
  • Head of Education department, Market Strategist, Chief Technical Analyst of Global Leading Forex Brokerage companies
  • Trained over 5000 professional trainers more than 10 years
  • BSc in Economics from Mansoura University

24 February 2023

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  • EURUSD

Update: No changes! The chart above shows that the pair is facing a strong resistance level that is 1.0800 and to the downside we can find a strong support level that is 1.0600. Therefore, we are bullish as long as the pair is trading above 1.0600 with targets: 1.0700 – 1.0800. On the other hand, a daily close below 1.0600 would push the pair further downward towards: 1.0500 – 1.0400.

Resistance levels: Support levels: Recommended:
▪ 1.1000
▪ 1.0900
▪ 1.0800		 ▪ 1.0600
▪ 1.0500
▪ 1.0450

 Bullishness above 1.0600.
  • GBPUSD

Update: target was hit! The chart above shows that the pair is trading above a strong support level that is 1.1900. Therefore, we are bullish as long as the pair is trading above it with targets: 1.2100 – 1.2200. On the other hand, a daily close below 1.1900 would open the door for the pair to reach 1.1730.

Resistance levels: Support levels: Recommended:
▪ 1.2300
▪ 1.2200
▪ 1.2100		 ▪ 1.1900
▪ 1.1800
▪ 1.1750

Bullishness above 1.1900.
  • GOLD

Update: Target was hit! As could be seen on the chart above that the pair is trading below a strong resistance level that is 1900. Therefore, we are bearish as long as the pair is trading below it with targets: 1830 – 1805. On the other hand, a daily close above 1900 would push the pair upwards.

Resistance levels: Support levels: Recommended:
▪ 1950
▪ 1920
▪ 1900		 ▪ 1830
▪ 1820
▪ 1805		 Bearish below 1900.

  • AUDUSD

Update: No changes! As could be seen on the chart above that the pair is facing a strong support level that is 0.6870. A daily close below this level, would push the pair downwards with targets: 0.6700 – 0.6600. On the other hand, bullishness above 0.6850 with targets: 0.7000 – 0.7100.

Resistance levels: Support levels: Recommended:

▪ 0.7300
▪ 0.7200
▪ 0.7130

▪ 0.6850
▪ 0.6800
▪ 0.6750

Bullish above 0.6850.
  • GBPJPY

Update: Upside targets were hit! The chart above shows that the pair has been trading below a strong resistance level that is 162. Therefore, we are bearish as long as the pair is trading below it with targets: 159 – 158.50. On the other hand, a daily close above 162 would open the door for the pair to reach 164 – 165.

Resistance levels: Support levels: Recommended:
▪ 165.00
▪ 163.00
▪ 162.00

▪ 158.50
▪ 158.00
▪ 157.60

Bearish below 162.

 

 

 

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